A memorandum of understanding was signed between Turkish and Azerbaijan’s central banks on Friday.

Under the deal, the two central banks aspire to carry out activities to foster cooperation in the field of central banking, according to a written statement by Turkey’s Central Bank.

Turkey’s relations with Azerbaijan is multifaceted and at a strategic level. With the aim of further strengthening bilateral relations, a High Level Strategic Cooperation Council mechanism was established in 2010 at the presidential level.

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